Managerial Economics, economics homework help

BA540Managerial EconomicsSkousen,M. (2013). Economic Logic. Fourth Edition. Regnery PublishingISBN9781621572220Krugman vs. MarriottPrepare a 2-3 page paperusing APA format discussing problem 1 in the “Problems to Ponder” at the end ofchapter 10. Be sure to address each question in this problem.Your paper should reflectscholarly writing and current APA standards. Please include citations tosupport your ideas.Problems to Ponder - Problem #1 Paul Krugman, Nobel economist at Princeton, states, “At the heartof capitalism’s inhumanity-and no sensible person will deny that the market isan amoral and often cruelly capricious master-is the fact that it treat laboras a commodity” (The Accidental Theorist, Norton, 1998, p, 15) Is it truethat capitalist employers treat their workers as “commodities”? Give examples.ContrastProfessor Krugman’s views with those of Bill Marriott, president of MarriottCorporation, who said:“One of the important things…is (to) counter the notion thatbig corporations are faceless machines….When employers know that their problemswill be taken seriously, that their ideas and insights matter, they’re morecomfortable and confident. In turn they’re better equipped to deliver their beston the job and to the customer. Everyone wins: the company, the employer, thecustomer. The philosophy of putting employers first particularly important inour industry, because Marriott is in the people business, not just the servicebusiness…I’ve said again that our associates are number one. It won’t hurt tosay one more time. Without the hard work and dedication of our team, Marriottwouldn’t exist. Period. That’s why taking care of our employees is a toppriority for the organization. (The Spirit to Serve, HarperBusiness, 1997, pp.5, 35, 126-127)Areemployees treated as “commodities” at Marriott? Is their labor policy “cruellycapricious” or “caring”? Is Marriott theexception to the rule among big companies?